Stock name: Angel One Ltd.
Pattern: Inverse head and shoulders pattern and retest
Time frame: Daily
Observation:
Since January 2024, the stock has trended downward. The stock has formed an inverse head and shoulders pattern between May and October. It broke out of this pattern on October 15, 2024, followed by a retest phase. The stock has since rebounded from the retest and stayed above the breakout line. Technical analysis suggests that with strong upward momentum, the stock may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Syrma SGS Technology Ltd.
Pattern: Resistance breakout
Time frame: Daily
Observation:
The daily chart shows a double top pattern, with a breakout level that has served as a resistance line since March 2024. The stock repeatedly approached this line without breaking through, but by late October 2024, it gained strong upward momentum and finally registered a breakout. According to technical analysis, if this momentum holds, the stock may see further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
